BIS Latest Update: Financial Flows And Tariffs, Investor Optimism And Labour Markets

October 2025

Tariffs and global capital flows - implications for central banks

Andréa M Maechler says large and growing financial interlinkages add to the challenge in navigating complicated economic situations.

Markets shrug off trade conflicts

Global markets soared on AI enthusiasm and policy easing during the review period, but steepening yield curves signalled fiscal concerns.

Job dynamics

Labour markets in emerging economies are steady, but unemployment is rising in some advanced economies, with signs of further decline ahead.

The 2025 Triennial Survey is out

Trading in foreign exchange markets rose to $9.6 trillion per day in April 2025 and trading in OTC interest rate derivatives surged to $7.9 trillion.

Household expectations survey

Fiorella De Fiore and Damiano Sandri present the results of a novel international household survey covering 31 countries, including 13 advanced economies and 18 emerging market economies.

BIS Innovation Summit 2025

The Summit convened central bankers, regulators, technology leaders and academics to explore how innovation is reshaping the future of finance.

Explainability of AI models

Financial institutions benefit from artificial intelligence, but the difficulty in explaining how AI models work complicates risk management and oversight.

More BIS publications

BCBS Speech: Resilience pays: the strategic value of regulation and supervision
In a speech, Erik Thedéen explains how regulation and supervision help banks stay competitive, stable and better prepared to support the economy.

BIS Working Paper: Harnessing artificial intelligence for monitoring financial markets
Advances in AI and machine learning offer new possibilities to predict market stress and explain its potential drivers.

Quarterly Review: I nternational finance through the lens of BIS statistics: bond markets, domestic and international
BIS statistics shed light on bond market growth, driven by government issuance and diverse private sector borrowing, including in foreign currencies.

Upcoming

2 October: Basel Committee on Banking Supervision meets
3 October: Pablo Hernandez de Cos participates in a panel on macro-financial stability in a fragmenting world at the Farewell Symposium for Klaas Knot
15 October: Neil Esho and Fernando Restoy participate in a panel on the evolving agenda of standard setters at the Institute for International Finance Annual Meeting
31 October: International Banking Statistics and Global Liquidity Indicators, Q2 2025